Money and Capital in Economic DevelopmentBrookings Institution, 1973 - 184 pages Study of the role of capital and financial markets in developing countries, presenting an economic theory of economic development in which the domestic monetary system and monetary policy are of prime importance - covers agricultural credit and savings, banking systems, investment, the role of high interest rates, inflation, unemployment, money supply and the price level, trade and fiscal policy, exchange rates and foreign capital, etc. References and statistical tables. |
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Page 72
... lending institu- tions went to farmers within this sector . It is precisely the low in- come farm operators who negotiate most frequently with lenders [ in ] the informal credit market . Thus , historically , commercial lenders have ...
... lending institu- tions went to farmers within this sector . It is precisely the low in- come farm operators who negotiate most frequently with lenders [ in ] the informal credit market . Thus , historically , commercial lenders have ...
Page 77
... lenders would be expensive . The moneylender and village store owner have intimate personal knowledge of the borrower's circumstances . He [ the moneylender ] knows the size of the borrower's farm , the number of animals he owns , the ...
... lenders would be expensive . The moneylender and village store owner have intimate personal knowledge of the borrower's circumstances . He [ the moneylender ] knows the size of the borrower's farm , the number of animals he owns , the ...
Page 78
... lenders do not have detailed knowledge of a broad market , so their type of business demands a small - scale ... lending activities do not represent more than 50 per- cent of their annual gross income . Therefore , unlike the village ...
... lenders do not have detailed knowledge of a broad market , so their type of business demands a small - scale ... lending activities do not represent more than 50 per- cent of their annual gross income . Therefore , unlike the village ...
Contents
Introduction | 1 |
The Intervention Syndrome | 22 |
Money and the Price Level | 37 |
Copyright | |
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Common terms and phrases
aggregate agricultural average bank credit banking system borrowers Brazil capital accumulation capital market Chapter Chile commercial commodity cost deflation devaluation Economic Development economy effect efficient entrepreneurs exchange rate export external finance farmers financial repression firm-households firms foreign capital foreign exchange foreign trade fragmentation Hence holders holding money import import substitution income increase industrial inputs internal Keynesian Korea LDCs lenders less developed countries liberalization loans marginal monetary system moneylenders neoclassical model nominal interest rate nominal money nominal rates organized banking output percent physical capital poor countries portfolio production propensity to save rate of inflation rates of interest rates of return ratio real cash balances real money balances real rates real return real stock reduced reform restrictions return on holding return on money revenue rural sector seigniorage self-finance self-financed investment stock of money store of value subsidy tariff theory tion U.S. dollars underdeveloped